Profit after tax
In millions of euros
Before deduction of non-controlling interests.
EPS – Earnings per share
In euros
As a consequence of the higher interest rate level, financial expenses increased in the business year 2023/24. The net financial result (financial expenses reduced by financial income) developed accordingly from EUR –133.4 million in the previous year to EUR –185.9 million in the current reporting period. This results in profit before tax of EUR 383.4 million in the business year 2023/24, which is a decrease of 74.3% compared to the figure for the business year 2022/23 (EUR 1,489.4 million). Based on a tax rate of 43.8% (previous year: 27.2%) and profit after tax from discontinued operations of EUR –8.5 million (previous year: EUR 93.4 million), profit after tax amounted to EUR 207.1 million (previous year: EUR 1,177.3 million). The high tax burden in relation to profit before tax is due to the fact that the impairments do not lead to any tax relief in the business year 2023/24.
1 Business year 2022/23, and 1st to 3rd quarter 2023/24, retroactively adjusted.
